Select Income REIT (SIR) Issues Earnings Results, Misses Expectations By $0.01 EPS

Select Income REIT (NASDAQ:SIR) issued its earnings results on Friday. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.01), Bloomberg Earnings reports. Select Income REIT had a net margin of 18.65% and a return on equity of 4.18%. The firm had revenue of $118.01 million during the quarter, compared to the consensus estimate of $116.73 million. During the same period in the previous year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis.

Select Income REIT (NASDAQ SIR) traded up 3.98% during trading on Friday, reaching $24.05. The company’s stock had a trading volume of 362,229 shares. The firm has a market cap of $2.15 billion, a PE ratio of 23.81 and a beta of 0.74. The company has a 50-day moving average of $23.72 and a 200 day moving average of $24.02. Select Income REIT has a one year low of $22.51 and a one year high of $26.79.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, October 23rd will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, October 20th. This represents a $2.04 dividend on an annualized basis and a yield of 8.48%. Select Income REIT’s dividend payout ratio (DPR) is currently 204.00%.

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A number of equities analysts have issued reports on SIR shares. Zacks Investment Research upgraded Select Income REIT from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. FBR & Co reiterated a “buy” rating on shares of Select Income REIT in a research note on Friday. BidaskClub downgraded Select Income REIT from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Deutsche Bank AG lifted their price target on Select Income REIT from $5.00 to $5.50 and gave the company a “hold” rating in a research note on Thursday.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Garner Asset Management Corp increased its position in shares of Select Income REIT by 27.4% during the third quarter. Garner Asset Management Corp now owns 108,419 shares of the real estate investment trust’s stock valued at $2,539,000 after acquiring an additional 23,312 shares in the last quarter. Northern Capital Management LLC increased its position in shares of Select Income REIT by 32.3% during the third quarter. Northern Capital Management LLC now owns 140,900 shares of the real estate investment trust’s stock valued at $3,300,000 after acquiring an additional 34,405 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Select Income REIT by 75.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 70,000 shares of the real estate investment trust’s stock valued at $1,639,000 after acquiring an additional 30,000 shares in the last quarter. Aperio Group LLC increased its position in shares of Select Income REIT by 17.6% during the third quarter. Aperio Group LLC now owns 21,437 shares of the real estate investment trust’s stock valued at $502,000 after acquiring an additional 3,212 shares in the last quarter. Finally, TIAA FSB increased its position in shares of Select Income REIT by 7.6% during the third quarter. TIAA FSB now owns 152,881 shares of the real estate investment trust’s stock valued at $3,580,000 after acquiring an additional 10,791 shares in the last quarter. 48.28% of the stock is owned by institutional investors.

Select Income REIT Company Profile

Select Income REIT is a real estate investment trust. The Company is engaged in the ownership of properties that include buildings and leased industrial lands that are primarily net leased to single tenants. As of December 31, 2016, the Company owned 121 properties (362 buildings, leasable land parcels and easements) with approximately 44.8 million rentable square feet.

Earnings History for Select Income REIT (NASDAQ:SIR)

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